Avestar Capital LLC Invests $216,000 in ONEOK, Inc. (NYSE:OKE)

Avestar Capital LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,365 shares of the utilities provider’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. HM Payson & Co. lifted its position in shares of ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 105 shares in the last quarter. Claro Advisors LLC raised its stake in shares of ONEOK by 1.6% during the third quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after buying an additional 115 shares during the last quarter. Haverford Trust Co raised its stake in shares of ONEOK by 1.2% during the third quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock worth $917,000 after buying an additional 117 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of ONEOK by 2.2% during the second quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after buying an additional 119 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in shares of ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after buying an additional 122 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OKE shares. Wells Fargo & Company boosted their price target on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Bank of America started coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Royal Bank of Canada upped their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Stock Down 0.8 %

Shares of OKE stock opened at $112.59 on Friday. The firm has a fifty day moving average of $100.35 and a 200-day moving average of $89.78. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07. The company has a market capitalization of $65.77 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 5.56 and a beta of 1.66.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the company earned $0.99 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 5.15 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.52%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.